GOLD
Long Setup
Long Setup
Note
Long TheoryPrice has broken out of the trendline of this bearish Wave 2. Now preparing for Wave 3, which is the longest wave of the 12345 impulse wave. SL is set below Wave 2, this is because if price goes below 'Wave 2', 12345 impulse wave would that be invalid. 3 TPs has been set for the target of Wave 3.
Once Wave 3 is completed, target for Wave 5 will be analysed in the future after a Wave 4 correction wave
Note
GOLD W1 JUNE 2020 UPDATE 1GOLD could be forming a double zig zag pattern within an ABC move upwards on this 3rd wave.
If this plays out, then the ABC wave consists:
__A wave__ zig zag pattern
__B wave__ side ways move/triangle
__C wave__ zig zag pattern
This could then potentially reach our first target
Trade closed manually
Hit BE +80
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.